If you’ve been waiting to sell your car now in LA, Orange County, or their surrounding areas, you’re in luck. The used car market—currently undergoing an extraordinary time—will welcome your old car with open arms.
Here are some interesting car-buying trends that will make your decision to sell your car highly profitable:
Used Car Prices are Rising
When we say that used car prices are rising, we don’t mean an abrupt increase in prices that goes back to normal levels in a matter of days. Prices have been growing steadily, month after month.
Here’s some perspective: between April 2020 and April 2021, used car values rose by 21%. 10% of this increase occurred in April 2021 alone, meaning that prices went up nearly as much in a month as they did in an entire year.
There are multiple factors that have helped solidify this increase, making things challenging for buyers but quite lucrative for sellers.
Buyers Want Older Cars
According to a report, the automobiles driving around on American roads in 2020 had an average age of 11.9 years.
This year, the figure has gone up. The average age of the vehicles being driven in America is now 12 years old for the first time in history.
This indicates an uptick in vehicle quality, safety, and efficiency standards, which allows cars to be functional long after their heyday. On the other hand, it also indicates that new cars are getting too expensive for many people, motivating them to buy used vehicles instead.
Disruptions to the Industry
While the used car industry has faced a few obstacles thanks to the coronavirus pandemic and the drastic supply shortages, not all disruption can be dismissed as bad.
Many sellers are now choosing to sell to car dealers, who readily buy models that are as old as 2005. Contacting a stranger over the internet to sell them your car is blasé at best and a hassle at worst.
Dealers are offering increased convenience and benefits such as offer beating services, home visits that work around sellers’ schedules, and a free back to their home if they want to bring their car to the dealership for the sale.
SUVs and Light Trucks are Here to Stay
The era of the sedans and minivans isn’t dead and gone just yet, but the times are definitely changing.
Light trucks and SUVs—always among the most beloved vehicles for Americans—are now going up the popularity rankings with a vengeance.
Even when it comes to used vehicles, a major percentage of the buyers are on the lookout for used Ford F-150s. The Ford F-150 has been the bestselling automobile in America for more than 3 decades and the bestselling pickup truck for 4.
Not even a pandemic or record-high used car prices, it seems, can mess with the Ford F-150.
At CarZilo, our highly-experienced team makes it easy for you to go through cash for cars online quotes, beat CarMax offers, and sell your car now in SD or elsewhere in California. Get in touch with us today for a stress-free car sale experience.